Virtus Investment Advisers LLC Purchases 6,656 Shares of Prothena Corporation plc $PRTA

Virtus Investment Advisers LLC increased its holdings in Prothena Corporation plc (NASDAQ:PRTA) by 56.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,547 shares of the biotechnology company’s stock after buying an additional 6,656 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Prothena were worth $113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Prothena by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company’s stock valued at $64,344,000 after buying an additional 68,652 shares in the last quarter. Siren L.L.C. raised its stake in Prothena by 16.7% during the first quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company’s stock worth $15,884,000 after purchasing an additional 183,715 shares during the period. Acadian Asset Management LLC acquired a new position in Prothena in the 2nd quarter valued at about $6,176,000. Birchview Capital LP grew its stake in shares of Prothena by 9.3% in the 1st quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company’s stock valued at $4,121,000 after buying an additional 28,400 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Prothena by 1.2% in the 2nd quarter. Nordea Investment Management AB now owns 311,605 shares of the biotechnology company’s stock valued at $1,916,000 after buying an additional 3,618 shares during the period. Institutional investors and hedge funds own 97.08% of the company’s stock.

Analysts Set New Price Targets

PRTA has been the topic of a number of research analyst reports. Wall Street Zen raised Prothena from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada lifted their price objective on shares of Prothena from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. Piper Sandler raised their price target on shares of Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Chardan Capital raised Prothena to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, HC Wainwright lifted their target price on Prothena from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.78.

Prothena Stock Up 3.0%

NASDAQ PRTA opened at $10.75 on Friday. The stock has a market capitalization of $578.40 million, a P/E ratio of -1.91 and a beta of -0.09. Prothena Corporation plc has a 52-week low of $4.32 and a 52-week high of $17.66. The firm has a 50-day moving average price of $10.12 and a 200 day moving average price of $8.00.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). The company had revenue of $2.42 million during the quarter, compared to analysts’ expectations of $6.64 million. Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. On average, equities research analysts expect that Prothena Corporation plc will post -4.04 earnings per share for the current fiscal year.

Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson’s disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer’s disease.